GBP/USD to stay under pressure as resistance at 1.32 caps .

The Bank of England (BoE) hiked key rates by 25 bps but showed hesitance in its future tightening plans, dampening the pound outlook. Analysts at OCBC bank expect cable to remain under pressure while below the 1.32 level.

Less hawkish BoE and the widening US-UK yield differentials points to further downside for GBP.“The relatively less hawkish BoE and the widening US-UK yield differentials (both on the front and back-end) points to further downside for the GBP.”

“So long as the pair is capped under the 1.32 resistance, the bias is still on the negative.” 

EUR/USD hovers around 1.1050 amid Ukraine crisis, ahead of Powell.EUR/USD is trading close to 1.1050, holding steady amid easing risk-off trades and fresh US dollar weakness. ECB President Lagarde said that euro area is not seeing elements of stagflation. Meanwhile, focus shifts to Powell’s speech after the hawkish rate hike. 


GBP/USD battles 1.3150 amid risk-off mood on Ukraine crisis.GBP/USD is under pressure around mid-1.3100, undermined by the damp market mood amid fresh concerns over Russia’s invasion of Ukraine. The Fed-BOE policy divergence weighs negatively on cable. Powell’s speech awaited. 


Gold sticks to modest gains near $1,925 area, lacks follow-through.Gold edged higher during the early part of the trading on Monday, though the intraday uptick lacked follow-through buying or strong bullish conviction. There seems to be no end in sight to the ongoing war in Ukraine, which rejected Russia’s calls to surrender the port city of Mariupol.

Gold News 

Cryptos to confirm bullish retest for the rally to continue.Bitcoin price is consolidating whilst threatening a move to the downside, causing all altcoins to pause in their rallies. In a way, BTC is controlling the crypto market’s moves.

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